London Square buys Surrey site for over £20m
Surrey County Council and Reigate and Banstead Borough Council have sold a 15-acre former playing field on Chetwode Road, Surrey, to London Square for in excess of its guide price of £20m.
The residential development opportunity has detailed planning permission for 186 new homes, comprising 141 private and 45 affordable units.
[caption id="attachment_866793" align="aligncenter" width="570"] The former De Burgh School site, Surrey[/caption]
Surrey County Council and Reigate and Banstead Borough Council have sold a 15-acre former playing field on Chetwode Road, Surrey, to London Square for in excess of its guide price of £20m.
The residential development opportunity has detailed planning permission for 186 new homes, comprising 141 private and 45 affordable units.
The former De Burgh School site is made up of two freeholds: the larger playing field site previously owned by Surrey County Council, and a smaller site formerly owned by Reigate and Banstead Borough Council.
Daniel Ward, partner at Knight Frank residential development, who advised the councils, said: “This site is strategically significant to the regeneration of the Preston Estate and will be the largest single development in the area.
“The sale is a positive message to both the local market, which will benefit from a prestigious development, and the wider market, demonstrating that transactions are still taking place despite uncertain times.”
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